ApplePay was released to the masses, and for Apple it became a definingmoment. Facebook and Twitter were flooded with media and tweets ofpeople swiping and tapping their devices to pay for their groceriesat the market or purchasing a Happy Meal at McDonalds. Media outletsand stations sent out reporters to observe and film customers tappingtheir phones at the register.
Bitcoin has been waiting forits eureka moment yet, well, at least not on a mainstream consumerlevel anyway. People know about Bitcoin, but really how many of ushas used the currency? But, if Apple Pay manages to make users morefamiliar with digital payments, that could be awesome for bitcoin.
Whileit has been acknowledged that Apple is unlikely to ever use thecrypto-currency, Apple Pay could prove to be a gateway for themainstream consumer to warm up to the idea of making transactionswith a phone and using digital currency instead of their cash orplastic. Dogecoin founder Jackson Palmer has listed the companiesbehind the rise of mobile payments among the younger crowd: Square,Venmo and Snapcash, Snapchat’s latest product. “It’s aboutchanging the mindset, the older generation is still attached tocash.” Said Palmer.
Why would users swap their dollars forBitcoin if they are paying by tapping their phone anyway? What wouldattract them to the currency? It has been argued that customersshould be using the currency without realizing they are evenaccessing Bitcoin. Most of the people using this new tech, don’tunderstand the technology that is making the payment of the cash intheir phone to the market, so if that was exchanged with bitcoin’sblockchain tech, one may not even realize. It won’t likely happenwith Apple Pay but with a generation of “tap to pay” users underthe new technology’s belt, the next big application could be themainstream eureka moment for bitcoin that it truly needs to become amainstream currency.